News and insight

Virtue Risk announced a new program for middle-market specialty contractors and consultants with contingent environmental exposures. It is written in partnership with PartnerRe Insurance Solutions Bermuda Ltd., rated A+ (Superior) by AM Best. The program packages general liability with pollution liability, professional liability and excess coverages as needed. It is led by Joshua Rubin, General Liability Underwriting Director at Virtue Risk.

“We are thrilled to be working with PartnerRe to offer this new product called the ‘Virtue Pledge’ product to our wholesale distribution network,” said Joseph Valenza of Virtue Risk. “PartnerRe’s financial strength and long-term commitment will allow us to continue to provide our clients with only the best-in-class products and top-notch service.”

“We’re excited to partner with Virtue Risk Partners,” said Joel Livingston, Head of Insurance Programs at PartnerRe. “They’re an expert in their niche and have a track record of establishing profitable lines of business for other carriers.”

Joseph A. Valenza, a 20-year veteran of underwriting, consulting and risk management, announced the formation of Virtue Risk Partners, a managing general underwriter, and a new relationship with Scottsdale Insurance Company. Scottsdale is rated A+ (Superior), FSC XV by A.M. Best and is owned by Nationwide Mutual Insurance Co. Under the agreement, Virtue Risk Insurance Services serves as a program administrator with $15MM in underwriting capacity.

Virtue Risk Insurance Services offers commercial package products including commercial general liability, professional, excess, environmental, commercial auto and storage tank compliance coverages. It targets consultants, engineers, contractors and environmental risks at scheduled properties, through wholesale agents serving insureds in all 50 states on a surplus lines basis.

“We are very excited to be doing business with someone with the qualifications that Virtue Risk Partners brings to the relationship,” said John Goodloe, Senior Vice President, Brokerage at Scottsdale Insurance Company.

“Virtue could not be more thrilled to launch our underwriting platform with such a marquee brand name like Scottsdale behind us,” said Joseph A. Valenza.